Supporting Statement
Explain the circumstances that make this collection of information necessary. Identify any legal or administrative requirements that necessitate the collection. Chapter 31 of Title 31 of the United States Code authorizes the Secretary of the Treasury to issue United States Treasury Bills, Bonds, Notes, and to prescribe the terms and conditions governing those issuances. Pursuant to said authorization, the Secretary of the Treasury may from time to time, by public notice, offer Treasury bills, notes and bonds for sale, and invite tenders therefore, throughout the Federal Reserve Banks and the TREASURY DIRECT System. Information needed to identify securities and to determine the circumstances related to their loss, theft, or destruction.
Indicate how, by whom and for what purpose is this information used? The information will be used only by employees of the Department of the Treasury, Bureau of the Public Debt, the various Federal Reserve Banks and Branches acting as fiscal agents of the United States, who as part of their duties perform functions in connection with the issuance, redemption, and payment of Treasury securities. If the collection of information were not conducted, the Treasury would be unable to determine who is lawfully entitled to a security maintained in TREASURY DIRECT.
Describe whether, and to what extent, the collection of information involves the use of automated, electronic, mechanical, or other technological collection techniques or other forms of information technology? What consideration is given to use information technology to reduce burden? Public Debt has been a leader in e-Gov, providing the public with options for conducting financial transactions online for several years. To provide our customers additional options for submitting information electronically, we are taking the following steps: a technical project team is exploring options (such as pay.gov) and will select the mechanism(s)/infrastructure needed; concurrently, reengineering of business processes (and forms) is being conducted as the result of a reorganization of our major business lines.
Describe efforts are used to identity duplication? Why can’t any similar information already available be used or modified for use for the purposes described in Item 2 above? Duplicate information is not requested.
If this collection of information impacts small businesses or other small entities, what methods are used to minimize burden? This collection of information does not impact small business or other small entities.
What consequences to Federal program or policy activities and what, if any, technical or legal obstacles to reducing burden will occur if this collection is not conducted or is conducted less frequently? N/A.
Is this collection of information conducted in a manner consistent with the guidelines of 5 CFR 1320.6? The collection of information cannot be conducted less frequently because the collection is initiated for a single purpose.
What effort was made to notify the general public about this collection of information? The Bureau’s notice was published in the Federal Register on September 3, 2010, Page 54226. No comments were received.
What decision was made to provide any payment or gift to respondents, other than reenumeration of contractors or grantees? N/A
What assurance of confidentiality was provided to respondents and what was the basis for the assurance in statute, regulations, or agency policy? In accordance with the Privacy Act of 1974, information furnished by the public is assured confidentiality.
What justification is there for questions of a sensitive nature? There are no questions of a sensitive nature.
What is the estimated hour burden of this collection of information? The average time needed is 7.5 minutes per response multiplied by the estimated number of responses (184,189) reflects the total burden of 25,019 hours.
What is the estimated total annual cost burden to respondents or recordkeepers resulting from this collection of information? Estimated cost burden to respondents is not available at this time.
What is the annualized cost to the Federal Government? The following factors were used to estimate the annual burden to this agency:
Printing cost - estimated number of forms printed annually, multiplied by the unit cost of the forms.
Case processing cost - estimated number of forms completed, multiplied by a percentage of the unit cost of case processing.
Forms management cost - salary cost of forms management personnel.
Printing Cost 184,189 @ $.02 = $ 3,684.
Case processing cost 184,189 @ 1.50/form = $276,284.
Forms Management Cost = 500.
Total Cost $280,468.
What is the reason for any program changes or adjustments reported in Items 13 or 14 of the OMB Form 83-I? Figures were update to reflect current total of responses. Ten of the thirteen forms in this collection deal with the Legacy Treasury Direct system. Internal reports indicate that the number of Legacy Treasury Direct accounts has decreased from 2007-2010. BPD anticipates a similar decline in those accounts over the next three years. Web statistics also indicate that the amount of download activity for all of the forms has decreased.
For collections of information whose results will be published, outline plans for tabulation and publication. The results of the collection of this information will not be published for statistical use.
If seeking approval to not display the expiration date for OMB approval of this information collection, what are the reasons that the display would be inappropriate? N/A.
What are the exceptions to the certification statement? N/A
| File Type | application/msword |
| Author | ARC |
| Last Modified By | Reference |
| File Modified | 2010-11-12 |
| File Created | 2010-11-12 |